March 16, 2012 / 11:59 AM / in 6 years

UPDATE 1-RockTenn forecasts 2nd-qtr profit below estimates

March 16 (Reuters) - Packaging and paper company RockTenn Co forecast second-quarter earnings below market expectations, hurt by maintenance downtime and lower selling prices for export containerboard.

RockTenn, which competes with companies such as Packaging Corp of America and Cascades Inc, forecast second-quarter adjusted earnings of 85 cents to 90 cents a share, compared with analysts’ estimate of $1.12 per share, according to Thomson Reuters I/B/E/S.

The company said it expects significant earnings improvement from the fourth-quarter onward, when it would complete major projects at the Hodge and Hopewell mills.

Shares of the Norcross, Georgia-based company closed at $71.41 on Thursday on the New York Stock Exchange.

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